Ninety One UK Ltd. recently announced the acquisition of new stake in Cars.com Inc. (NYSE:CARS). This fresh investment now brings its stake to 8.68% valued currently at $47.33 million. In addition, Greenvale Capital LLP raised its holdings by 0.25 million to 4.5 million shares.
With over 1.03 million Cars.com Inc. (CARS) shares trading Monday and a closing price of $8.68 on the day, the dollar volume was approximately $8.93 million. The shares have shown a negative weekly performance of -7.76% and its price on 08/31/20 lost nearly -5.34%. Currently, there are 67.26M common shares owned by the public and among those 66.37M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 8 analysts who have offered their price forecasts for CARS have a consensus price objective of $10.75. The analysts have set the share’s price value over the next 12 months at a high of $16.00 and a low of $8.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Cars.com Inc. stock is 2.60 for the next 12 months. The average price target is 16.05% above its last price level and an upside to the estimated low will see the stock lose -8.5% over that period. But an upside of 45.75% will see the stock hit the forecast high price target while mean target price for the stock is $10.25.
Insiders at the company have transacted a total of 27 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 19 of these insider trades were purchases, accounting for 1,076,290 shares. Insider sales of the common stock occurred on 8 occasions, with total insider shares sold totaling 32,703 shares.
The top 3 mutual fund holders in Cars.com Inc. are MFS Meridian Funds – Prudent Weal, Vanguard Total Stock Market Index, and AMG Managers Fairpointe Mid Cap F. MFS Meridian Funds – Prudent Weal owns 2.18 million shares of the company’s stock, all valued at over $17.72 million. AMG Managers Fairpointe Mid Cap F sold -0.55 million shares to bring its total holdings to over 1.65 million shares at a value of $13.41 million. AMG Managers Fairpointe Mid Cap F now owns shares totaling to 2.46% of the shares outstanding.
Shares of Cars.com Inc. (NYSE: CARS) opened at $9.17, unchanged from a prior closing price of $9.17. However, the script later closed the day at $8.68, down -5.34%. The company’s stock has a 5-day price change of -7.76% and 30.33% over the past three months. CARS shares are trading -28.97% year to date (YTD), with the 12-month market performance down to -2.58% lower. It has a 12-month low price of $3.25 and touched a high of $13.55 over the same period. Currently, 1.03 million shares have been traded, compared to an average intraday trading volume of 1.41 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -1.59%, 20.04%, and 3.92% respectively.
Institutional ownership of Cars.com Inc. (NYSE: CARS) 67.26M shares outstanding. Mutual fund holders own 47.87%, while other institutional holders and individual stakeholders account for 55.76% and 2.69% respectively.
It has a market capitalization of $575.66M. The earnings-per-share (ttm) stands at -$18.57. Price movements for the stock have been influenced by the stock’s volatility, which stands at 6.39% over the week and 6.75% over the month.
Analysts forecast that Cars.com Inc. (CARS) will achieve an EPS of $0.38 for the current quarter, $0.41 for the next quarter and $1.55 for 2021. The lowest estimate earnings-per-share for the quarter is $0.25 while analysts give the company a high EPS estimate of $0.5. Comparatively, EPS for the current quarter was $0.32 a year ago. Earnings per share for the fiscal year are expected to decrease by -20.60%, and 25.79% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 8 brokerage firm advisors rate Cars.com Inc. (CARS) as a “Moderate Buy” at a consensus score of 2.60. Specifically, 3 Wall Street analysts polled rate the stock as a buy, while 5 of the 8 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the CARS, a number of firms have released research notes about the stock. Citigroup stated their Neutral rating for the stock in a research note on May 08, 2020, with the firm’s price target at. Craig Hallum coverage for the Cars.com Inc. (CARS) stock in a research note released on May 07, 2020 offered a Hold rating with a price target of. B. Riley FBR was of a view on May 05, 2020 that the stock is Neutral, while BTIG Research gave the stock Buy rating on March 09, 2020, issuing a price target of $10. DA Davidson on their part issued Buy rating on March 05, 2020.